Daily Alert: Markets await RBA decision

  • The 4:30pm RBA decision is the major event today. We expect 50bp July rate hikes by both trans-Tasman cousins (to 1.35% for the RBA and 2.50% for the RBNZ)
  • US markets shut with markets generally listless and cautious overnight given worries over slowing global growth and high rates of inflation
  • Today’s NZIER QSBO should highlight stagflationary conditions in the business sector

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